Chilli Beans faces crisis and renegotiates R$ 340 million debt
Retail crisis and high interest rates lead Chilli Beans to extrajudicial recovery to renegotiate R$ 340 million. Learn more on Gazeta do Povo
TL;DR
- Chilli Beans has sought extrajudicial recovery to renegotiate R$ 340 million in debt, excluding amounts owed to suppliers and employees.
- The company's founder, Caito Maia, cited increased debt taken on during the pandemic and high current interest rates as primary reasons for the financial difficulties.
- The debt being renegotiated is solely with banks and financial institutions.
- Previous estimates indicated a significant increase in the company's gross debt from R$ 216 million in 2023 to R$ 290 million in 2024.
- Executive André Dela Togna, with experience in business restructuring, has joined Chilli Beans to support the CEO.
- The company's holding, Mustang 25 Participações, defaulted on R$ 16.5 million in commercial notes issued in February 2025.
- Chilli Beans is reportedly seeking a partner and is willing to sell 30% of the company to finance expansion in the prescription eyewear segment.
- The company remains optimistic, projecting 10% growth in 2026 and planning special releases and partnerships.
- Chilli Beans, founded by Caito Maia, grew from selling sunglasses brought from California to over 1,100 stores globally, with a strong emphasis on its brand identity linked to music and pop culture.